Test Bank for Microeconomics, 3rd Edition, Austan Goolsbee, Steven Levitt, Chad Syverson

TEST BANK FOR
MICROECONOMIC
S, 3RD EDITION,
AUSTAN
GOOLSBEE,
STEVEN LEVITT,
CHAD SYVERSON

, Name Class Dat
: : e:


Chapter 01: Adventures in Microeconomics
Multiple Choice

1. Which of the following is considered a microeconomic topic?
a. unemployment
b. inflation
c. gross domestic product
d. the telecommunications industry
ANSWER: d


2. Which of the following is a microeconomic policy?
a. fiscal policy
b. monetary policy
c. rent control
d. tariffs imposed on all importing
nations
ANSWER: c


3. Which of the following is NOT a microeconomic topic?
a. a tax on tobacco
b. expansionary monetary policy
c. a subsidy for solar power
d. a quota on taxicabs
ANSWER: b


4. To learn the intricacies of theories and models, economists use:
a. graphs and
mathematics.
b. their best guess.
c. Wikipedia.
d. only the stock market.
ANSWER: a


5. Examples of using theories and models include:
a. understanding how members of OPEC choose how much oil to
produce.
b. explaining how the NBA sets salaries for rookies.
c. A and B.
d. none of the above.
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